Episode 21 - Personal Insurance and Medicare FAQs with Geoffrey Harris & Traci George

Traversing Entrepreneurship

Geoffrey Harris is the Vice President of Medicare Sales at Michigan Planners, a full-service insurance agency specializing in employer group benefits. He graduated from Northern Michigan University with a degree in Business Administration and has been working in the insurance and financial services industry for over 40 years. Before joining Michigan Planners, Geoffrey worked as a financial representative for Northwestern Mutual for over 25 years. He went on to found Harris Insurance Agency and operated it before its merger with Michigan Planners.

Traci George is an individual specialist at Michigan Planners and has been with the agency since 2021. She serves as the Lead Agent for the firm’s Individual Market team, under which she focuses on working with clients under 65. By going through their health profiles, lists of medications, household incomes, and budgets, Traci helps clients identify the best insurance for their needs.

Geoffrey and Traci join me today to answer some of the most frequently asked questions about personal and individual insurance and Medicare plans. They outline the enrollment periods and processes. They explain why it’s important for individuals to pay attention to Medicare’s enrollment window. They also offer advice on transitioning from employer-sponsored plans to Medicare and underscore the advantage of working with insurance specialists.

“With Boomers turning 65, there’s a big need for information to the public so they can better understand what Medicare is and how they can transition to it.” - Geoffrey Harris

This week on Traversing Entrepreneurship:

• Traci and Geoffrey’s roles at Michigan Planners
• The main things to consider when enrolling for individual insurance for people under 65
• When to enroll for personal and individual insurance in 2023
• Enrollment periods and processes for Medicare plans in 2023
• Top reasons individuals make changes in their Medicare plans
• ACA, “non-qualified,” and short-term insurance plans
• Deciding factors in selecting individual insurance options
• Deciding whether you should stay in an employer-sponsored plan
• The COBRA law and its notice requirement timeline
• Common mistakes in enrolling in individual and Medicare coverage
• The importance and advantage of working with insurance specialists
• Making changes in Medicare Advantage or traditional Medicare plans in 2023
• The Inflation Reduction Act and how it impacted Medicare
• The federal government’s drug model and the expansion of eligibility for tax credits

Our Favorite Quotes:

• “I can’t think of a disadvantage to talking to insurance specialists annually and going through your options with them.” - Derek Dall’Olmo
• “Today, there are insurance specialists who are available at no costs to talk to about coverage and to go over the best options.” - Derek Dall’Olmo
• “Your budget will decide your decision; it’s important to talk to an insurance specialist and it’s the benefit of a client to take their time.” - Traci George

Connect with Michigan Planners:

• Michigan Planners
• Michigan Planners on LinkedIn

Connect with Geoffrey Harris:

• Geoffrey Harris on LinkedIn
• Email: [e-mail]

Connect with Traci George:

• Email: [e-mail]

About TreMonte Tax Solutions and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, host Derek Dall’Olmo sits down with local business ownerships and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek Dall’Olmo is the founder of TreMonte Tax Solutions, a tax planning firm that serves business owners and entrepreneurs. This show is for informational purposes only and should not be relied upon for investment decisions.

Email Derek Dall’Olmo at [e-mail] with questions, comments, and to schedule a one-on-one conversation.

Follow Derek on LinkedIn.

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